Real estate blog entries tagged with lock period by Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

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lock period: Unlocking the Rate Lock Mystery - 06/27/17 08:07 AM

Unlocking the Rate Lock Mystery

Everyone who has financed a home with a mortgage, either for a purchase or refinance, has probably struggled at some point during that transaction with the dilemma of locking or floating the interest rate. This critical decision does one of two things:

Commits both the borrower and the lender to a specific interest rate for a set period of time. This “for better/for worse” proposition means that if rates move up or down, the commitment cannot be broken. This action is known as “locking” a rate. Leaves the interest rate open to future market fluctuation, again for … (28 comments)

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